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AMP Capital hires new property manager
Australian and Asian property funds manager Nick McGrath has signed on as fund manager for the AMP Capital Wholesale Office Fund.
McGrath, who since 2009 has been chief executive for the AIMS AMP Capital Industrial REIT, a 50/50 joint venture in the Singapore-listed industrial REIT market, will deliver the strategy, growth and investment performance for the $1.1 billion office fund.
AMP Capital head of property funds management, Chris Judd, said McGrath's 13 years involvement in the Australian and Asian property funds industry — including funds management, capital transactions and corporate finance — would position him well in the new role.
"Nick has demonstrated the ability to build a strong successful team and drive growth in the portfolio through acquisitions and significant development opportunities," Judd said.
McGrath has also been employed as chief executive of the Allco Commercial REIT and managing director of Allco Singapore, establishing its real estate funds management business and growing assets under management to over S$2 billion.
He was also a lawyer with Blake Dawson (now Ashurst).
McGrath will move into the new role at the start of the new year, with Tim Nation acting as fund manager until that time.
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